KINGSPORT, Tenn., February 26, 2013 - Eastman Chemical Company announced the signing of a master agreement with the University of North Carolina at Chapel Hill to conduct research in chemistry and materials science.

The agreement provides a minimum of $1.5 million over six years to support collaborations between Eastman scientists and UNC scientists, staff and students. Those collaborations include research projects, visits to both the UNC campus and Eastman manufacturing facilities and identifying and applying for federal or other funding opportunities. This collaboration was modeled after and complements the previously announced agreement between Eastman and North Carolina State University.

"We're excited about the opportunities this partnership brings to Eastman," said Dr. Greg W. Nelson, senior vice president and chief technology officer at Eastman Chemical Company. "Teaming with a leading university like UNC furthers Eastman's commitment to world-class open innovation that brings new ideas and technologies to market more quickly than traditional approaches."

"We are pleased to be collaborating with Eastman and look forward to the advances in research and technology that we can make together," said Barbara Entwisle, vice chancellor for research at UNC. "This is a perfect example of how partnerships with industry can benefit both the University and the private sector."

"We are always looking for ways to broaden our relationships and reach creative minds," said Dr. Stewart Witzeman, director of the Eastman Innovation Center. "Our agreement with UNC continues to expand our network of innovation partners. It sets both a model and a tone for how we want to work with others."

Faculty members from UNC's Department of Chemistry will periodically submit research proposals in response to Eastman developed problem statements or 'Requests for Proposals' (RFPs). UNC proposals will then be selected for funding each year by Eastman. The first decisions about the projects are expected to be made in the spring.

"The Department of Chemistry is excited, pleased and eager to begin this long-term partnership with Eastman," said Dr. Valerie Sheares Ashby, chair of the UNC chemistry department in the College of Arts and Sciences. "We feel that our faculty, postdoctoral associates and students will bring a tremendous amount of expertise and a spirit of innovation to this collaboration, resulting in benefits for Eastman, the department and for each of the researchers involved."

Eastman's agreement with UNC follows a similar partnership for cutting-edge research with North Carolina State University. The Eastman Innovation Center will open on N.C. State's Centennial Campus in spring 2013.

About Eastman
Eastman is a global specialty chemical company that produces a broad range of products found in items people use every day. With a portfolio of specialty businesses, Eastman works with customers to deliver innovative products and solutions while maintaining a commitment to safety and sustainability. Its market-driven approaches take advantage of world-class technology platforms and leading positions in attractive end-markets such as transportation, building and construction, and consumables. Eastman focuses on creating consistent, superior value for all stakeholders. As a globally diverse company, Eastman serves customers in approximately 100 countries and had 2012 pro forma combined revenues, giving effect to the Solutia acquisition, of approximately $9.1 billion. The company is headquartered in Kingsport, Tennessee, USA and employs approximately 13,500 people around the world. For more information, visit www.eastman.com.

About the University of North Carolina at Chapel Hill
The University of North Carolina at Chapel Hill was chartered in 1789 and opened its doors for students in 1795 as the nation's first public university. The University serves North Carolina, the United States and the world through teaching, research and public service, and embraces an unwavering commitment to excellence as one of the world's great research universities. UNC's mission is to serve as a center for research, scholarship and creativity and to teach a diverse community of undergraduate, graduate and professional students to become the next generation of leaders. Through the efforts of exceptional faculty and staff, and with generous support from North Carolina's citizens, the University invests its knowledge and resources to enhance access to learning and to foster the success and prosperity of each rising generation. UNC also extends knowledge-based services and other resources of the University to the citizens of North Carolina and their institutions to enhance the quality of life for all people in the state. For more information, visit unc.edu.